It might already be two months into the new year, but in terms of hotel milestones, it’s just about to start. Just as the UAE’s residential sector is producing a much-needed surplus of property, consumers are set to benefit as this year’s hotel industry pipeline turns out a wave of audacious new developments. From a new Viceroy, Langham and Bulgari in Dubai to an Aloft in Al […]
By Yashaswini Swamynathan U.S. stock index futures were little changed on Thursday as investors digested the minutes of the Federal Reserve’s most recent meeting, which pointed to an interest rate hike “fairly soon”. Still, policymakers did not appear to show a sense of urgency in raising rates as inflation remained below the long-term target of 2 percent, effectively taking a rate hike in March off the table. […]
Many fear electronic voting machines can be hacked and tampered with. Image: iStock The hacking campaign around the US presidential election, cyberattacks against Ukrain’s power grid, and even the internet crippling Mirai botnet DDoS attack all demonstrate how cyberattacks have grown to threaten the very fabric of society itself, NATO has warned. Citing the impact of high profile incidents like these, Jamie Shea, deputy assistant secretary general […]
America’s Midwest farmers can’t seem to catch a break. First, an epic collapse of grain prices over the last couple of years have threatened to wipe out family farmers (see “Midwest Farm Bubble Continues Collapse As Farm Incomes Expected To Crash In 2017“) and now, thanks to the pending NAFTA showdown threatened by President Trump, Mexico, the single largest importer of U.S.-grown corn, has announced plans to […]
Stainless steel is regaining its shine. After falling victim like many other basic industries to the global commodities downturn, companies that specialise in the rustproof metal are enjoying a change in their fortunes. An upwards spiral in share prices, bigger profits and increased payouts to investors is helping to restore the lustre in this niche of the steel market. “It’s very clear we are now in a […]
By Nichola Saminather | SINGAPORE SINGAPORE Asian stocks pulled back from a 19-month high on Thursday, while the dollar tried to steady from losses suffered in the wake of the U.S. Federal Reserve minutes indicating a cautious approach to more interest rate increases. MSCI’s broadest index of Asia-Pacific shares outside Japan was fractionally lower. Japan’s Nikkei slid 0.1 percent, while Australian shares retreated 0.3 percent. Overnight on […]
Wednesday 12:45 GMT Overview US equity futures suggest Wall Street will dip from record levels that were reached amid a positive outlook for economic growth. Political concerns leave the euro carrying the wooden spoon in the forex markets, while the rush for supposed havens pushes short term German bond yields to their lowest ever. Hot topic The FTSE All-World equity index is at another record, up 0.1 […]
Paul Polman thought it was just going to be an informal catch-up. But it quickly became clear that Alexandre Behring, chairman of Kraft Heinz, had something very specific on his mind when he visited Unilever’s art deco headquarters in London last month. Had Mr Polman, chief executive of Unilever since 2009, ever considered a collaboration with Kraft Heinz, Mr Behring wanted to know. Mr Polman took this […]
Oil company Saudi Aramco [IPO-ARMO.SE] has selected JPMorgan Chase & Co, Morgan Stanley, and HSBC Holdings Plc as lead underwriters for its planned initial public share offering, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. The listing of Aramco is expected to be the world’s biggest initial public offering and could raise up to $100 billion. The IPO is the centerpiece of […]
U.S. stocks rose to fresh record highs on Tuesday, boosted by strong earnings reports from Wal-Mart and Home Depot and continued optimism about the economic agenda of President Donald Trump. Wal-Mart’s (WMT.N) shares were the top gainer in the Dow Jones Industrial Average, rising 3 percent after the world’s largest retailer reported higher-than-expected U.S. sales. Home Depot (HD.N) shares gained 1.4 percent after the home improvement retailer […]
Whatever route the government chooses for Brexit it will need to cooperate with other countries, especially our EU neighbours, to combat tax avoidance, tax evasion and money laundering. Yet the signs are not very good as the government seems to have chosen non-cooperation. It has snubbed the EU inquiry into the Panama Papers. Last year, a leak of 11.5m documents and 2.6 terabytes of information from the […]
With US stocks in record territory and the S&P 500 index the most richly valued in more than a decade, some investors see dark clouds gathering on the horizon. The S&P 500, a broad measure of the stock prices of America’s largest companies, ended last week at a record high and has risen almost 10 per cent since the election of Donald Trump as president in November. […]
Chinese technology giant Huawei has opened a narrowband Internet of Things (NB-IoT) lab in Australia to provide research and development opportunities around applications, smart devices, and sensor networks. The lab is situated within James Cook University in Cairns, Queensland, with Huawei kitting it out with IoT technology and giving the university funding for research. Its positioning within northern Australia will see it focus on smart applications for […]
SYDNEY Asian share markets were mixed on Monday as political uncertainty globally kept the mood cautious, while the U.S. dollar dithered in a tight range ahead of a busy week for Federal Reserve events. Turnover was light with U.S. markets closed for the Presidents Day holiday. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS edged up 0.1 percent and back toward a 19-month peak reached last […]
Kraft Heinz, the Warren Buffett-backed US food group, dropped its $143bn pursuit of consumer products rival Unilever on Sunday, only two days after publicly confirming its interest in acquiring the Anglo-Dutch rival. Kraft Heinz said in a joint statement with Unilever that it had “amicably agreed to withdraw its proposal for a combination of the two companies”. A takeover would have created the world’s second-largest consumer goods […]
LONDON British Prime Minister Theresa May has asked top officials to examine U.S. food company Kraft Heinz’s (KHC.O) proposed takeover of Unilever Plc (ULVR.L), the Financial Times reported on Sunday without citing any sources. Kraft’s surprise $143 billion offer, which would be the largest ever acquisition of a UK-based company, was flatly rejected by Unilever on Friday. The Financial Times said May had ordered officials to see […]
Theresa May has ordered her top officials to examine Kraft Heinz’s proposed takeover of Unilever to see if it raises concerns for the wider British economy and merits government intervention. The $143bn takeover approach is a big test for Mrs May’s industrial policy: last year she criticised Kraft’s 2010 takeover of the British chocolate maker Cadbury — the US company reneged on a promise to retain factories […]
special feature Harnessing IoT in the Enterprise The tech revolution is spreading to every corner of the earth with the Internet of Things, and it’s enabling data analytics and automation in ways never before imagined in business. Depending on whose numbers turn out to be right, there will be somewhere between 20 and 200 billion “things” connected to the internet by 2020. We all know about the […]
Al Shafar Steel Engineering has announced plans for a AED175 million ($47.6 million) expansion of its facilities located at Dubai Industrial Park. The expansion, which will result in one of the largest steel manufacturing companies in the region, is geared to grow the company’s operational footprint in the UAE and the wider GCC region, Al Shafar said in a statement. The company said it will add four […]
18 February 2017 Abu Dhabi – NIMR Automotive, a subsidiary of Emirates Defence Industries Company (EDIC), the UAE’s integrated defence manufacturing and services platform is showcasing its new JAIS 6×6 military vehicle at the International Defense Exhibition and Conference (IDEX), demonstrating Abu Dhabi’s growing capabilities in military manufacturing. “This vehicle is a major milestone for NIMR as we grow our production, expand our product range and break into new […]
By Thomas Escritt | SPIJKENISSE SPIJKENISSE Geert Wilders launched his election campaign on Saturday, promising to crack down on “Moroccan scum” he said were making the streets unsafe and urging the Dutch to “regain” their country with a vote for his anti-Muslim, anti-EU Freedom Party. Wilders was surrounded by police and security guards during a walkabout in his party’s stronghold of Spijkenisse, part of the ethnically diverse […]
18 February 2017 Manama, Bahrain – The American Chamber of Commerce Bahrain (AmCham Bahrain), the hosts of this year’s AmCham MENA Regional Council’s Bi-Annual Forum, today announced the Bahrain Economic Development Board (EDB) as the Strategic Partner for the upcoming event being held on the 15-16 March 2017 in the Kingdom of Bahrain. The Forum, which aims to promote trade and investment between the United States and markets of the Middle […]
Silicon Valley cloud-based collaboration workplace provider Prysm has announced its latest offering. Its Visual Workplace update includes ‘Live Source Streaming’, ‘Quick Start’, and ‘Wireless Screen Sharing’. Its solution is also now compatible with third-party hardware. Prysm The announcement means that customers can now turn almost any conference room that has a modern interactive LCD display into a Prysm Visual Workplace enabled room. Users can collaborate from any […]
Critically acclaimed Cities: Skylines is calling the Xbox One its home pretty soon. Cities: Skylines publisher Paradox Interactive broke the good news in its official website. Xbox One owners will have the chance to recreate the hit Windows city-building game experience in their home consoles. The game is set for release this Spring 2017. Sky-High With Features Paradox Interactive released the details in its official Cities: Skylines website. The Xbox One port comes […]
